Visa Inc. (NYSE:V) Shares Bought by Signature Wealth Management Group

Signature Wealth Management Group grew its position in shares of Visa Inc. (NYSE:V) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 762 shares of the credit-card processor’s stock after purchasing an additional 81 shares during the period. Signature Wealth Management Group’s holdings in Visa were worth $267,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa in the fourth quarter valued at approximately $27,000. Compass Planning Associates Inc purchased a new position in Visa in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. raised its holdings in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the period. NewSquare Capital LLC purchased a new position in Visa in the fourth quarter valued at approximately $35,000. Finally, Sellwood Investment Partners LLC purchased a new position in Visa in the fourth quarter valued at approximately $41,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,807.49. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock valued at $50,133,659 over the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Citigroup initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Visa in a research note on Friday. Finally, Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Performance

Visa stock opened at $355.23 on Tuesday. The company has a market cap of $655.46 billion, a PE ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a fifty day moving average price of $350.71 and a two-hundred day moving average price of $338.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.51 earnings per share. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.